The persistence of oil demand

The coronavirus pandemic is prompting discussion whether or not oil demand will resume growing or, if patterns of daily life have changed in ways to shift away from oil use. As the global containment efforts ease, we expect demand growth to resume, but also expect the sense of urgency to reduce global carbon emissions to resurface. We have examined the components of oil demand growth to 2040 and found the same dilemma for the global community as before the pandemic. This Insight discusses the difficulty in repressing oil demand in the long term. Our spring Long Term Outlook will be released by end-May.